The world market makers shuffled the chairs on the deck last week. The Shanghai Composite, the worst performer for the two previous weeks, took the top spot by a wide margin, up 2.93%. Hong Kong's Hang Seng was a distant second, and India's third place BSE SENSEX barely broke even. At the other end of the deck, France's CAC 40 lost nearly 5%, far behind the next-to-last German DAXK, which was down over 3%.
This past, week two indexes on the watch list are in bear territory -- the traditional designation for a 20% decline from an interim high -- one more than last week. See the table inset (lower right) in the chart below. At the bottom of the Bear Zone is, of course, the Shanghai Composite, which is a stunning 39.90% off its interim high of August 2009. The other bear-zone index is Japan's Nikkei, which closed the week in sixth place with a 2.63% loss. At the other end of the inset, the S&P 500 is now 1.71% off its interim high.
As for year-to-date performance, here is a table showing the 2012 peak percentage gains, sorted in that order, and current YTD gains for the eight indexes. The BSE SENSEX closed the week at its 2012 high. In contrast, the Shanghai continues to hold dubious distinction of being the only index with a YTD loss.
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